TaxTMI 
TaxTMI 
2020 (9) TMI 435
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....de Original Order dated 15.04.2016, as also upheld by the learned Commissioner (Appeals), Kolkata, vide Order-in-Appeal dated 16.03.2018, which is under challenge in this appeal. 2. Briefly stated, the facts of the case are that the appellant is a 100% exporter of services and is engaged in providing claim process services including basic coding activities for claims processing for customers located outside India. The said service qualifies as export of services which is not in dispute. For the period in dispute, the appellant claimed refund of accumulated Cenvat Credit under Rule 5 of the CENVAT Credit Rules, 2004 (Credit Rules). Both the authorities below have denied the refund of an amount of Rs. 3,47,183/- while applying the formula pr....
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....rit inasmuch refund would be permissible only to the extent payment has been received for export invoices. 6. Heard both the sides and perused the appeal records in detail. 7. I find that the only issue for consideration before me is the ascertainment of eligible refund amount in terms of the formula prescribed in Rule 5 of the Credit Rules. The relevant portion of Rule 5 providing the formula for maximum permissible refund of Credit amount, as was applicable during the period in dispute is reproduced below:- Refund Amount = (Export turnover of goods + Export turnover of services) X Net CENVAT credit Total turnover Where, - (A) "Refund amount" means the maximum refund that is admissible; (B) "Net CENVAT credit" me....
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....ovider that:- (i) refund is allowed of the net Credit availed amount proportionate to the value of export of services. (ii) the ratio for calculation of the proportionate refund is arrived at by considering the export value of services in the numerator and the total turnover in the denominator. (iii) in the numerator, the export value would comprise of the value of export invoices issued during the relevant period for which payment has been received plus, the export invoices issued in the preceding period for which payment is received in the relevant period less, the advance amount received in the relevant period for which services have not been completed. (iv) in the denominator, the total turnover would include the export value as der....